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GoPro profit misses consensus by 52.0% in Q1

GoPro said its first-quarter normalized net income came to 8 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS declined 26.4% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $12.5 million, a gain of 34.1% from $9.3 million in the year-earlier period.

The normalized profit margin dropped to 3.5% from 4.0% in the year-earlier period.

Total revenue rose 54.0% year over year to $363.1 million from $235.7 million, and total operating expenses increased 55.5% from the prior-year period to $340.8 million from $219.2 million.

Reported net income rose 50.5% from the prior-year period to $16.3 million, or 11 cents per share, from $10.9 million, or 13 cents per share.